FHA to commence estates’ construction across geo-political zones – Ashafa

Managing Director and Chief Executive Officer of the Federal Housing Authority (FHA) Senator Gbenga Ashafa has disclosed that plans are on the way to commence the construction of more estates across all the geo – political zones of the country.

A statement issued by the FHA’s Head of Public Affairs, Mr Kenneth Chigelu, in Abuja on Thursday quoted Ashafa speaking during the lunch of a book titled ‘’Real Estate Investment Trust’’, authored by Mr Hakeem Oguniran at the Transcorp Hilton Hotel, Abuja.

 Ashafa, who was the special guest at the occasion, explained that the authority under his leadership had made the issue of funding a top priority.

“At FHA, we are re -positioned to succeed and we are ready to deliver on our mandate. Hence, every knowledge on how to improve our project financing options remains invaluable.  Our target of opening acreages of Federal Housing Authority Estates across all the geo – political zones of the country is in line with the Federal Government’s economic sustainability plan, our work is well cut out for us.

‘’Since I assumed leadership at the authority, the issue of funding has been on the top burner and a challenge we are committed to navigate with the help of our strategic partners through sound Public Private Partnership Models amongst others,’’ he said.

He charged real estate industry players to brace up for the change in market in moving away from the out – dated ‘cash and carry’ basis of acquiring houses, to the more contemporary mortgage financing practice.

The MD stated that the management of FHA under his leadership was working toward a greater encouragement and sourcing of off – takers, as a way of fast and easy disposal of houses.

Ashafa, however, described the book as clearly a ‘ground breaking incursion into the area of trusts in investment funding on  in Nigeria.

He said it would be very useful for lawyers, professionals in real estate, regulators and government agencies.